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Honda Motor: 2021 Sales Declined 4.0% in China Due to Insufficient Parts Supply
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Honda Motor's automobile sales in China decreased 4.0% year-on-year to 1,561,540 units in 2021 (announced by Honda Motor). In the first five months of 2021, monthly sales went up compared to the same the same period of the previous year due to strong decline in the previous year caused by the outbreak of the new coronavirus infection. For the rest of the year, monthly sales plunged double digits due to insufficient supply of semiconductors and other components. As a result, Honda Motor’s share in the passenger vehicle market declined 0.7 pp to 7.3%.